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Microsoft to launch Xbox One on Nov. 22

One week after Sony launches its PlayStation 4 video game console, Microsoft fans will find the rival Xbox One on store shelves. Microsoft announced the Xbox One will launch on November 22 in the U.S. and 12

Microsoft to launch Xbox One on Nov. 22

One week after Sony launches its PlayStation 4 video game console, Microsoft fans will find the rival Xbox One on store shelves.

Microsoft announced the Xbox One will launch on Nov. 22 in the U.S. and 12 other global markets, setting up a video game showdown before the critical holiday season. That's the same day the Xbox 360 launched in the U.S. in 2005.

Introduced in May, the $499 Xbox One will feature HDMI pass-thru to use the device as a cable box, a Blu-ray player, 500 GB of storage, a game DVR for recording video games and Skype integration. Players can also expect upgrades in graphics, the Xbox controller and the Kinect motion sensor, which is bundled with the console.

Microsoft says 23 titles will launch with Xbox One, including original games Dead Rising 3 and Ryse: Son of Rome as well as familiar names such as Call of Duty and Assassin's Creed.

"We built Xbox One to bring you the best games, unrivaled multiplayer and more entertainment than ever before," says Yusuf Mehdi, vice president of marketing, strategy and business for Xbox, in a statement.

The holiday season will prove critical for the video game industry, which is in the midst of a retail slump. Spending on video game content dropped 9% last year, according to NPD Group.

The arrival of fresh video game hardware is expected to reinvigorate the video game market. Microsoft's device will enter the space as the priciest console, with Sony launching its PlayStation 4 video game console on Nov. 15 for $399, and Nintendo recently slashing the price of its beleaguered Wii U console to $299.

"The pricing is all relative to value, and we think we've got great value in the system to we're delivering," says David Dennis, group PR manager at Xbox.

The Xbox One has weathered several backlashes from video game players since it was first revealed in May. When originally announced, the console had required online authenticity checks every 24 hours as well as limitations on how consumers could use their games after purchase. Microsoft removed the restrictions one month later, citing feedback from customers.

However, it appears players may have moved on. Microsoft says pre-orders for the Xbox One sold out faster than any other Xbox console. "We are humbled and gratified by the tremendous interest in Xbox One from game fans everywhere," says Mehdi.